New Zealand's unemployment rate fell to 3.9 percent in the second quarter of 2019 from 4.2 percent in the previous period, compared to market expectations of 4.3 percent. That was the lowest jobless rate since the second quarter of 2008, when it was 3.8 percent. Unemployment Rate in New Zealand averaged 5.99 percent from 1985 until 2019, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.30 percent in the fourth quarter of 2007.

Unemployment Rate in New Zealand is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in New Zealand to stand at 4.20 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.

New Zealand Unemployment Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2018-11-06 09:45 PM Unemployment Rate Q3 3.9% 4.4% 4.5% 4.5%
2019-02-06 09:45 PM Unemployment Rate Q4 4.3% 4.0% 4.1% 4.4%
2019-04-30 10:45 PM Unemployment Rate Q1 4.2% 4.3% 4.2% 4.3%
2019-08-05 10:45 PM Unemployment Rate Q2 3.9% 4.2% 4.3% 4.2%
2019-11-05 09:45 PM Unemployment Rate Q3 3.9% 4.1%



New Zealand Jobless Rate Falls to 11-Year Low

New Zealand's unemployment rate fell to 3.9 percent in the second quarter of 2019 from 4.2 percent in the previous period, compared to market expectations of 4.3 percent. That was the lowest jobless rate since the second quarter of 2008, when it was 3.8 percent.

The number of unemployed people decreased by 7 thousand to 109 thousand, driven by 4 thousand fewer unemployed men. For men, the unemployment rate fell to 3.6 percent, down from 3.9 percent last quarter. This was the lowest unemployment rate for men since the first quarter of 2008, when it was also 3.6 percent. For women, the unemployment rate fell to 4.2 percent, down from 4.4 percent last quarter.

There were 21,000 more employed people in the second quarter, up to 2.68 million – 13,000 more women, and 8,000 more men. The employment rate increased to 67.7 percent in the second quarter of 2019 (vs 67.5 percent in Q1). The employment rate for men inched up to 72.4 percent from 72.3 percent last quarter. For women, the employment rate rose to 63.1 percent from 62.9 percent.

The labour force participation rate remained unchanged at 70.4 percent in the June quarter, compared to market expectations of 70.5 percent.

The underutilisation rate declined to 11.0 percent from 11.3 percent in the previous period. It was the lowest rate since the third quarter of 2008.

Annual wage inflation, as measured by the labor cost index, increased to 2.1 percent in the second quarter of 2019 from 2.0 percent in the prior period. Public sector wages advanced 2.2 percent, higher than a 1.9 percent gain in the previous quarter; and private sector wages rose 2.2 percent, up from 2.0 percent in the previous quarter. On a quarterly basis, wages increased by 0.7 percent, up from a 0.4 percent rise in the previous period.


Mario | mario@tradingeconomics.com
8/6/2019 2:21:26 PM



New Zealand Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.90 4.20 11.20 3.30 percent [+]
Employed Persons 2680.00 2658.00 2680.00 1499.00 Thousand [+]
Unemployed Persons 109.00 115.00 189.00 69.00 Thousand [+]
Employment Change 0.80 -0.20 2.60 -1.80 percent [+]
Labor Force Participation Rate 70.40 70.40 71.00 63.00 percent [+]
Labour Costs 1192.00 1184.00 1192.00 698.00 Index Points [+]
Productivity 124.27 123.02 126.86 86.54 Index Points [+]
Job Vacancies 200.05 200.67 207.35 55.20 Index Points [+]
Wages 32.42 32.04 32.42 13.07 NZD/Hour [+]
Wages in Manufacturing 30.68 30.64 30.68 12.44 NZD/Hour [+]
Minimum Wages 17.70 16.50 17.70 10.25 NZD/Hour [+]
Population 4.93 4.84 4.93 2.37 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Youth Unemployment Rate 10.30 13.10 15.30 10.20 percent [+]
Part Time Employment 537.00 528.00 555.00 264.00 Thousand [+]
Employment Rate 67.70 67.50 68.20 56.40 percent [+]
Full Time Employment 2147.00 2130.00 2147.00 1177.00 Thousand [+]


New Zealand Unemployment Rate

In New Zealand, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.90 4.20 11.20 3.30 1985 - 2019 percent Quarterly




Country Last Previous
South Africa 29.00 Jun/19
Spain 14.02 Jun/19
Turkey 13.00 Jun/19
Brazil 11.80 Jul/19
Argentina 10.10 Mar/19
Italy 9.90 Jul/19
France 8.50 Jun/19
Euro Area 7.50 Jul/19
India 6.00 Dec/18
Canada 5.70 Aug/19
Saudi Arabia 5.60 Jun/19
Australia 5.20 Jul/19
Indonesia 5.01 Mar/19
Russia 4.30 Aug/19
United Kingdom 3.80 Jul/19
Mexico 3.70 Jul/19
United States 3.70 Aug/19
China 3.61 Jun/19
Netherlands 3.40 Jul/19
South Korea 3.10 Aug/19
Germany 3.00 Jul/19
Japan 2.20 Jul/19
Singapore 2.20 Jun/19
Switzerland 2.10 Aug/19


Related

Latest